The Turkish defence industry has reached a significant level in recent years as a result of deliberate and strategic steps built upon the accumulation of historical knowledge and experience. The geopolitical location of Türkiye and its aspiration to become a global power have underscored the strategic importance of the defence sector—particularly through the active utilization of domestically produced weapons and military equipment by the Turkish Armed Forces and allied nations. This study aims to contribute to the development of financial strategies for the sector by conducting a comprehensive financial analysis of defence industry firms operating in Türkiye. Financial analysis plays a critical role in assessing the sustainability and operational soundness of firms within the defence sector. Among the various financial analysis techniques, ratio analysis is one of the most employed methods for evaluating the financial performance of companies in this industry. Accordingly, this study examines the annual financial data of publicly traded defence companies listed on Borsa Istanbul (BIST) over the period 2020–2024, with the objective of comparing their financial performances. Only firms with complete and uninterrupted financial data throughout the analysis period were included in the study. The findings derived from the analysis have been evaluated from a sectoral perspective, and relevant recommendations have been proposed based on these insights.